Can I Lose My Florida Foreclosure Surplus Funds?

Yes, various ways. However, today I want to discuss Florida Statute 45.032 (5)(C) and how many people have lost their funds due to this specific statute. What happens if a homeowner doesn’t properly claim surplus funds within a year of the sale?

“One year after the sale, any surplus remaining with the clerk of the court that has not been disbursed as provided herein is presumed unclaimed as set forth in s. 717.113 and must be reported and remitted to the department in accordance with ss. 717.117 and 717.119 . . .”

Florida Statute 45.032(5)(C).

If a motion for surplus funds is filed via an owner’s claim for surplus funds, and the Court denies the motion, then the funds can be subjected to being “unclaimed”. Once funds are out of the court’s hands and into the State’s, it is extremely difficult to properly prove that one is entitled to surplus funds.

I have seen this situation occur when former owners assign surplus funds rights to a third party company as well. What often happens, is the third party company’s lawyer will file a motion to disburse surplus funds, and it will be denied for various reasons. Then, the lawyer allows the case sit there because they are not skilled enough and/or too lazy to give the Court and the Judge what they are requesting.

We just had a foreclosure surplus hearing in Pasco County last week. The homeowners assigned away their rights to the surplus funds to a third party company, NERS. NERS’ lawyer filed a motion that was ultimately denied by the court. Instead of putting in the effort to respond properly, NERS let the case sit there for a long period of time. Thankfully, these former owners contacted our firm. We filed a new motion and went into court and got the judge to sign an order, giving us the ENTIRE amount of the surplus funds.

Don’t lose your surplus funds. First, don’t assign away any rights. Second, hire an experienced Florida surplus recovery funds lawyer to represent you.

Call me today. I will give you a free consultation. If you choose to hire me, you will not have to pay me any money up front! I will only get paid if I win your case and collect the money for you!

1-888-252-8754

Whether you are looking for an Orlando foreclosure surplus collection lawyer, Palm Beach foreclosure surplus collection lawyer, Tampa foreclosure surplus collection lawyer, Pasco County foreclosure surplus collection lawyer, Jacksonville Florida foreclosure surplus collection lawyer, Walton beach foreclosure surplus collection lawyer, Daytona beach foreclosure surplus collection lawyer, Miami foreclosure surplus collection lawyer, Fort Lauderdale foreclosure surplus collection lawyer, Sarasota foreclosure surplus collection lawyer, Fort Myers beach foreclosure surplus collection lawyer, Miami Beach foreclosure surplus collection lawyer, West Palm Beach foreclosure surplus collection lawyer, Kissimmee foreclosure surplus collection lawyer, Lakeland foreclosure surplus collection lawyer, Clearwater foreclosure surplus collection lawyer, Melbourne foreclosure surplus collection lawyer, or a Pinellas County foreclosure surplus collection lawyer, we will represent parties in any county in the state of Florida!

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